Green Car Congress
MAY 18, 2017
shale in particular—is effectively capping the oil price gains from that agreement. Four months after the OPEC/NOPEC deal took effect, oil prices dropped to the levels preceding the agreement, amid concerns over still stubbornly high inventories and rising U.S.
Green Car Congress
NOVEMBER 19, 2016
US Secretary of the Interior Sally Jewell and Bureau of Ocean Energy Management (BOEM) Director Abigail Hopper released the final plan to guide future energy development for the Nation’s Outer Continental Shelf (OCS) for 2017-2022. The vast majority of US offshore oil production occurs in the Gulf of Mexico.
Green Car Congress
APRIL 27, 2017
Crude oil production in the US Permian Basin is expected to increase to an estimated 2.4 Between January 2016 and March 2017, oil production in the Permian Basin increased in all but three months, even as domestic crude oil prices fell. million b/d) in that month.
Green Car Congress
AUGUST 24, 2018
This national increase is almost entirely driven by tight oil. In particular, the Permian region in western Texas and eastern New Mexico is expected to account for more than half of the growth in crude oil production through 2019. Source: US Energy Information Administration, Short-Term Energy Outlook, August 2018. million b/d.
Green Car Congress
JULY 30, 2019
The tight oil production phenomenon continued to increase the share of sweet light crudes, which rose above 20% worldwide. Asia Pacific’s oil dependence continues to grow, ranking first in terms of deficit. Global oil demand grew by 1.4%, slightly lower than in 2017 (+1.6%) in a context of increasing oil prices.
Green Car Congress
JUNE 27, 2018
Well lateral lengths in the Permian have increased in average by more than 1,500 feet (ft) since 2016 to approximately 7,500 ft by the end of 2017, says GlobalData, a leading data and analytics company. On 25 June, the price of a 42-gallon barrel of West Texas Intermediate Crude (WTI) was $68.08.
Green Car Congress
JANUARY 31, 2017
If the proposed broad 20% border-adjustment tax were implemented and applied to the energy sector, the result would likely lead to a large increase in gasoline prices and a big premium in domestic oil prices vs. international, according to new analysis by Bloomberg Intelligence. Pump prices could rise an average $0.30
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